BHEL shares hit 52-week high on reports the company has won Rs 19,422 crore order

At around 10:30 a.m., shares of BHEL were up 4.91 per cent, or Rs 9.5, at Rs 202.95 apiece. The market capitalisation of the company stood at Rs 70,633.66 crore.

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Bharat Heavy Electricals (NSE: BHEL) shares rose as much as 6 per cent and clocked a 52-week high at Rs 204.65 apiece. The upward movement in the stock came after The Hindu Business Line reported that the heavy electrical equipment company has been the best bidder for NLC India's thermal power project at Talabira.

At around 10:30 a.m., shares of BHEL were up 4.91 per cent, or Rs 9.5, at Rs 202.95 apiece. The market capitalisation of the company stood at Rs 70,633.66 crore.

According to analysts, the company is expected to post a consolidated loss of Rs 2,060 crore as against a profit of Rs 3,091 crore a year ago.

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As per the report, BHEL will build three ultra-supercritical units of 800 MW each for NLC India at Talabira. Incidentally, NLC has added a fourth unit of 800 MW to the project. The EPC tender was for the first three projects; it is not clear whether or not there would be a separate tender for the fourth unit.

This order will load its plants at Tiruchi (boilers), Haridwar (turbine generator), and Hyderabad (various other components such as pulveriser mills).

The power plant will be fed with coal from NLC’s Talabira mines. NLC will produce 14.5 million tonnes of coal from Talabira this year but has plans to raise production to 20 million tonnes in a few years.